The Oxford Company collected the following information for the preparation of its December 31 classified balance sheet:
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The Oxford Company collected the following information for the preparation of its December 31 classified balance sheet:
Prepare a classified balance sheet for Oxford Company.
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Accounts receivable. $26,000 Property, plant, and equipment... $200,000 Cash....... 20,000 Inventory.... 75,000 Other current assets.. 32,000 Other long-term assets. 40,000 Accounts payable.. 30,000 Common stock... 115,000 Long-term liabilities. 60,000 Retained earnings ? Other current liabilities 18,000
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